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8-K - FORM 8-K - LEAP WIRELESS INTERNATIONAL INC | a59568e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Leap Contacts:
Greg Lund, Media Relations
858-882-9105
glund@leapwireless.com
Leap Contacts:
Greg Lund, Media Relations
858-882-9105
glund@leapwireless.com
Amy Wakeham, Investor Relations
858-882-9876
awakeham@leapwireless.com
858-882-9876
awakeham@leapwireless.com
Leap Announces Pricing of $400 Million in Senior Notes
SAN DIEGO May 18, 2011 Leap Wireless International, Inc. (NASDAQ:LEAP) today announced that
its operating subsidiary, Cricket Communications, Inc., has priced its offering of $400 million in
aggregate principal amount of additional 7.75% senior notes due 2020, in an offering to qualified
institutional buyers in the United States pursuant to Rule 144A and outside the United States
pursuant to Regulation S under the Securities Act of 1933, as amended. The issue price is 99.193%
of the principal amount of the senior notes. The closing of the sale of the senior notes, which is
subject to customary conditions, is expected to occur on May 23, 2011.
The notes will be guaranteed on a senior unsecured basis by Leap and certain of its indirect
subsidiaries. The net proceeds from the offering (which are estimated to be approximately $392.7
million, after discounts, commissions and estimated offering expenses) will be used for working
capital and other general corporate purposes, which may include accelerated deployment of
next-generation LTE network technology and/or opportunistic acquisitions.
The notes have not been registered under the Securities Act or any state securities laws and may
not be offered or sold in the United States without registration or an applicable exemption from
registration requirements.
This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or
any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in
which, or to any persons to whom, such an offer, solicitation or sale is unlawful. Any offers of
the notes will be made only by means of an offering memorandum. This press release is being issued
pursuant to and in accordance with Rule 135c under the Securities Act.
Leap is a registered service mark of Leap Wireless International, Inc. Cricket is a registered
trademark of Cricket Communications, Inc.
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